Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

UK equity income sees record inflows as search for income intensifies

UK equity income sees record inflows as search for income intensifies

UK equity income funds enjoyed record net sales of £500 million last month as the quest for yield shows no signs of abating.

Net fund sales overall reached £2.9 billion, the highest in four years. Within that, equity was the best selling asset class, bringing in £1.4 billion. By contrast, fixed income net sales were just £270 million, below property and mixed asset inflows.

'Fund sales were just shy of the £3 billion mark in April with £1.3 billion coming from investors making the most of their tax-free ISA allowances by rushing to meet the end of tax year deadline or topping up at the start of the new one,'  Daniel Godfrey (pictured), IMA chief executive, said

'The IMA UK Equity Income Sector was the best-selling sector for both ISAs and funds overall. However investors also channelled money into mixed asset and property funds – property in particular has been seeing consistent growth in sales over the last year.'

Total UK investment funds reached £788 billion with UK equity funds the biggest winners, becoming the best selling region for the sixth month in a row, followed by Global and European equity funds. ISAs saw net retail sales of £1.3 billion.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: TAM Asset Management’s CEO prepares for a quantum leap

Profile: TAM Asset Management’s CEO prepares for a quantum leap

TAM Asset Management may be relatively small but Lester Petch has big ambitions and believes it is on the verge of a 'quantum leap’

Wealth Manager on Twitter